Paying deposit when signing tenancy agreement

adg1

One of the first lessons I learnt in an old job was never to trust a business without a non-residential address or corporate email with cash or credit.

Check on Landregistry for the actual owners details and see if they match the name on the tenancy agreement.

Google/bing or any other search engine you can think of the full details of the agent you are dealing with and it could well bring up some warning threads in places like these.

In my opinion, why would a 'not unsubstantial' agent use a hotmail account to receive emails?

Not good news, but I'd find a new house with a high street agent.

tbs624

Archthorpe - it does not matter how big the company is and how many other properties they appear to have on their books.

See these:

http://forums.moneysavingexpert.com/showpost.php?p=38362008&postcount=190

http://www.estateagenttoday.co.uk/News/Story/?storyid=2389&title=Another_Martin_%26_Co_franchisee_hits_trouble&type=news_features

http://www.lettingagentnews.co.uk/disgraced-letting-agent-is-back-in-property-business-1120


http://www.lettingagentnews.co.uk/two-in-court-on-letting-agency-fraud-charges-1068

You clearly have reservations about this LA or you wouldn't have posted.

It is normal for a tenancy deposit to be asked for in "cleared funds" before the T takes occupancy of the property. If the tenancy does not start until 4 Jan there is absolutely no reason why you should not be able to pay this by cheque, if you are being asked to pay it this week.

Talk to the local Council's Trading Standards Officer and the Private Sector Rentals Officer about this LA before you do anything else. They may already be aware of them, for the wrong reasons.

As adg1 says , do some more checking out.Have you checked whether the LA is voluntarily signed up to ARLA, NALs, NAEA etc? Have a look also at www.allagents.co.uk

princeofpounds

nothing unusual about paying first month's rent and deposit at the same time as signing the agreement, but there are a hell of a lot of red flags here (insisting on paying in cash for one!).

What you need to be sure of is that the agent is certainly representing the landlord and who the LL is, because if La does a flit you will need to be claiming from the prospective landlord

theartfullodger

I entirely agree with PoP except for one point. LLs & agents do sometimes demand initial payments in cash (I usually do) as even SOs & cheques can be later "wound back". But all that money that far before the start of the tenancy?? Sounds wrong.

I get tenancies signed & money paid usually a day or so before the start..

Yup, contact LL and get him (not the agency, the LL) to confirm the agent is working for him.

I do not like the stuff about companies house & dormancy - big red flag.

You could of course present a cheque made out to the name of the landlord...

Hope it works out... But I'd feel very uncomfortable in your shoes...

Cheers!

Artful (LL since 2000)

tbs624

OP - could have kept this all in one thread

other is at https://forums.moneysavingexpert.com/discussion/2910110